Congressional Update (Beltway Buzz, April 24, 2020)

The Beltway Buzz is a weekly update summarizing labor and employment news from inside the Beltway and clarifying how what's happening in Washington, D.C. could impact your business.

Congressional Update. Despite our elected officials being out of town, there was a lot of action coming out of Congress this week.

• CARES Part II. On April 24, 2020, President Trump signed the Paycheck Protection Program and Health Care Enhancement Act. The new economic stimulus law adds on to the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act relief package that was signed into law almost 1 month ago. Whether it will be referred to as "Phase 3.5" or "CARES Part II," the new law provides the following funding:
  • $320 billion for the Paycheck Protection Program (PPP),